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Summary

Easy access to the essential knowledge and skills of a top-level M.B.A. program--without having to attend a lecture What the Best MBAs Know provides professionals who don't have the coveted M.B.A. designation with the skills and knowledge taught in today's finest programs. Professors from Stanford, MIT, Northwestern, and other influential programs contribute detailed chapters on broad-scope topics such as strategy, functional areas including accounting, and key disciplines from managerial economics to decision analysis. The resulting application-based book gives readers complete mastery over the most important concepts of an M.B.A. education, leveling the playing field between M.B.A. and non-M.B.A. professionals. Organized according to the subject matter of the core M.B.A. curriculum, this unique and valuable book features: Fascinating boxes discussing real-world situations and applications Companion website with interactive exercises, key links, and more Focused review questions and exercises for each chapter and area Contributors Charles P. Bonini, Graduate School of Business, Stanford University Leslie K. Breitner, Daniel J. Evans School of Public Affairs at the University of Washington Richard J. Lutz, Warrington College of Business Administration at the University of Florida Steven L. McShane, Graduate School of Management at the University of Western Australia Steven Nahmias, Leavey School of Business at Santa Clara University Stephen A. Ross, Sloan School of Management, Massachusetts Institute of Technology Daniel F. Spulber, Kellogg School of Management, Northwestern University

Author Biography

Peter Navarro, Ph.D. (Irvine, CA) is a professor of business and economics at the University of California-Irvine. The author of several college texts, Dr. Navarro has also written articles for Harvard Business Review, BusinessWeek, the Wall Street Journal, and other prominent publications.

Table of Contents

Dedication

vii

Contributors

viii

PART ONE THE BIG MBA PICTURE

Who Should Read This Book?

1

(5)

The Big Picture---An Overview of the MBA Curriculum

6

(13)

PART TWO THE STRATEGIC AND TACTICAL MBA

Management Strategy---Five Steps to Successful Strategic Analysis

19

(38)

Macroeconomics and the Well-Timed Business Strategy

57

(30)

PART THREE THE FUNCTIONAL MBA

Strategic Marketing---Delivering Customer Value

87

(32)

Operations and Supply Chain Management---Getting the Stuff Out the Door

119

(33)

Financial Accounting---``Doing the Numbers'' for Investors, Regulators and Other External Users

152

(19)

Managerial Accounting---``Doing the Numbers'' for Internal Decision Making and Control

171

(23)

Corporate Finance---The Big Questions and Key Concepts

194

(33)

PART FOUR THE ORGANIZATIONAL AND LEADERSHIP MBA

Organizational Behavior---The Power of People and Leadership

227

(34)

PART FIVE THE MBA TOOLBOX

Statistics, Decision Analysis, and Modeling---How the Numbers Help Us Manage